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President Obama represents 'milestone' for green investment

24 January 2009 / by Rachael Stiles
US President Barack Obama represents a "milestone" for green investment, in his pledge to "create a clean energy economy" in America, according to Charlie Thomas, green investment manager at Jupiter.

In his inaugural speech on Tuesday, the newly appointed President of the United States said that "each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet." and one of the cornerstones of his election campaign was to overhaul Bush's poor green energy record.

Manager of the £268m Jupiter Ecology Fund, Mr Thomas said that the inauguration of the new president was "encouraging" for the green businesses and investment, because those at the forefront of the transition to a more environmentally-friendly economy will be offered long term growth opportunities.

Mr Thomas said that the $825billion American Recovery and Reinvestment Bill of 2009, due for a decision in Congress in February, could "mark a sea-change" in American governmental attitudes towards climate change. The Bill stands to create half a million 'green-collared jobs' in the alternative energy and building industries.

Not only would the Bill improve the energy security of the US, making it less reliant on foreign supply, it would double the amount of alternative energy which is produced, reducing the country's carbon emissions, and improving the efficiency of homes and government buildings.

The Bill "speaks of the new president's commitment to environmental issues and suggest a much more positive international stance for the US in the effort to tackle climate change." said Mr Thomas, who for the last year has been increasing the Jupiter Ecology Fund's exposure to the US.

The growing support for environmental projects has produced new ethical investment opportunities, he said, and President Obama's inauguration has the potential to create a more positive environment for green companies.

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